Baku/16.08.22/Turan: By its resolution the Kazakh government has approved a draft treaty on trade and economic cooperation with Azerbaijan, KazTAG reported.
According to the draft agreement, "each party creates favorable conditions for cooperating business entities in the territory of its state and in accordance with the laws of its state, and refrains from actions that might prejudice the interests of the other party". Besides, the parties "promote the establishment of direct contacts between business entities, regardless of organizational and legal forms and form of ownership.
"The agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Azerbaijan on trade and economic cooperation is a framework document which lays the foundation for cooperation in such areas as trade, investment, entrepreneurship, protection of the balance of payments, and is aimed at further development and strengthening of existing bilateral trade and economic relations between the parties," - says the explanatory note to the document.-0-
Economics
-
According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
-
The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
-
Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
-
Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
Leave a review